Beroe acquired Forestreet, bringing together best-in-class talent, proprietary data, and cutting-edge AI to create the next generation of procurement intelligence.
“Beroe and Forestreet have both delivered on their missions to disrupt market intelligence, and we see tremendous potential in combining forces to deliver smarter, more integrated procurement solutions,” says Vel Dhinagaravel, Founder and CEO of Beroe. “Over the past eight years the Forestreet team has built something truly unique. They’ve been ahead of the curve in AI development, and we’re excited to bring this wealth of talent and market knowhow into Beroe.”
Key takeaways:
· Forestreet’s technology currently powers Beroe’s Supplier Discovery module, a core offering within the Beroe Live.ai platform. With this acquisition, Beroe will further transform Supplier Discovery into a market-leading capability that enables users to find, evaluate, and engage suppliers with unmatched speed and precision.
· As part of the acquisition, Forestreet’s full team will join Beroe, bringing in a group of data scientists and engineers with deep experience in artificial intelligence, including large language model (LLM) development.
· The leadership team at Forestreet will take on expanded responsibilities within Beroe’s organizational structure, contributing to product development, AI strategy, and go-to-market execution.
“Through our partnership with Beroe we are building the smartest and most integrated supplier intelligence ecosystem in the world,” says Alex Miller, CEO and founder of Forestreet. “Our customers want speed, accuracy, and autonomy. Bringing our AI expertise and talented teams of experts much closer together is how we will deliver it.”
“We are delighted to be joining Beroe, to enable us both to scale our AI innovations and to deliver even greater impact for our clients,” says David Doyle, chairman and founder of Forestreet. “It’s a very exciting new chapter for our team.”
